Florida State University’s (FSU) Board of Trustees on Thursday approved a $3.22 billion operating budget for the 2026-27 fiscal year, marking a 4.5 percent increase over the university’s amended $3.08 billion budget for the prior year.
The spending plan includes major investments in student financial aid, wages and benefits, research initiatives and campus construction projects. University officials said more than two-thirds of the budget is dedicated to student aid, employee compensation and benefits, and capital projects.
“This year’s budget positions Florida State University to move strategic priorities forward and build on our momentum as one of the top public universities in the nation,” said President Richard McCullough. “It will expand opportunities for students, strengthen our ability to attract and support exceptional faculty and staff, and deepen our impact across Florida and beyond. We appreciate the continued confidence of the Florida Legislature and Gov. Ron DeSantis in FSU’s ability to deliver meaningful results for the people of Florida.”
More than $300 million will be directed toward financial aid as part of the university’s effort to expand access and affordability. During the 2024-25 academic year, 87 percent of full-time undergraduates received some form of non-loan financial aid, according to FSU.
The budget also relies heavily on state support, which accounts for about 40 percent of the university’s annual budget. Some state funding remains subject to approval by Gov. Ron DeSantis. Legislative appropriations include support for several FSU-based centers and initiatives, including the Florida Institute for Child Welfare, the Institute for Governance and Civics, the Florida Institute for Pediatric Rare Diseases, Sunshine Genetics, the College of Law Election Center, nursing education and other research and service programs.
The 2026-27 budget includes $455 million for capital projects. Pending the governor’s approval, the capital outlay plan includes $179 million in new state appropriations, with more than half directed toward an additional building for the FAMU-FSU College of Engineering.
Other projects include the FSU Health Research Center in Tallahassee, Northwest campus housing, dining and parking, and deferred maintenance investments.